Gary, Peter, and Chris and have capital balances of $25,000, $40,000, and $31,000, respectively. As per the partnership agreement, Gary gets a profit share of 2/9; Peter gets 4/9; and Chris gets 3/9. The partnership agrees to pay $22,000 as the final settlement to Gary. How much bonus does Peter receive as a result of this transaction?
A) $1,714
B) $1,286
C) $1,667
D) $1,333
Correct Answer:
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